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Defendant Name, Crime, Location, Year
James Marshall Cesena, 39, a North Carolina man, has pleaded guilty to defrauding his business partner of approximately $1.2 million in a $1M embezzlement scheme.
Cesena served as Chief Financial Officer (CFO) of Company A from September 2015 to August 2023. In this role, he managed the company’s financial matters and controlled its bank accounts.
Between 2016 and 2023, Cesena directed hundreds of thousands of dollars each year to his personal accounts, while informing his business partner, identified as E.P., that Company A had cash flow issues and was in financial difficulty.
Cesena used Company A’s credit cards and corporate accounts to make hundreds of thousands of dollars in personal purchases that had not been authorized by the Company. This included expenditures on vacations, travel and airfare, amusement parks, school, home improvements, and living expenses.
Cesena also took out a credit card in E.P.’s name without her knowledge and consent and charged approximately $75,000. To conceal his fraud, Cesena generated false financial statements, which he provided to E.P. and their business consultant.
Cesena is scheduled to be sentenced on April 9, 2025, and faces up to 20 years in prison. A federal district court judge will determine his sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
Assistant U.S. Attorney Jack Morgan is prosecuting the case, with former Special Assistant U.S. Attorney Likhitha Butchireddygari assisting in the prosecution.
Key Facts
- State: Virginia
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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